Sarah Had a $30,000 Loss on Section 1244 Stock,a $15,000

Question 51
Multiple Choice

Sarah had a $30,000 loss on Section 1244 stock,a $15,000 loss on sale of a personal use automobile and a $8,000 loss on stock that is not classified as Section 1244.Without regard to net capital loss limitations,Sarah should recognize A)a ordinary loss of $38,000. B)a capital loss of $53,000. C)an ordinary loss of $30,000 and a capital loss of $8,000. D)an ordinary loss of $30,000 and a capital loss of $23,000.